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      KeyBanc Maintains Sell Rating on Apple Amid Strong iPhone 18 Demand

      KeyBanc Capital Markets has reiterated its Underweight rating on Apple Inc., setting a price target of $250 per share. This decision comes despite a reported surge in hardware spending, which increased by 44% month-over-month in September, significantly surpassing the three-year average of 15%. This spike is indicative of strong initial demand for the newly launched iPhone 18.

      However, KeyBanc analysts anticipate that this demand may not be sustainable. They cite concerns over diminishing carrier promotions and lower upgrade rates, which could negatively impact future sales. As a result, the firm is forecasting potential production cuts for the iPhone.

      Furthermore, KeyBanc's projections for iPhone and Mac shipments in 2027 remain considerably lower than the expectations set by Wall Street, suggesting a cautious outlook for Apple's performance in the coming years.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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